Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Yesterday I drove by a established and well-known dealership on Capital to buy a new car. I was actually interested in making a deal, but the offer I got on my old car was so poor that I just left the store.
It was 8-9.000 dollars below KBB and approx. 30% lower than the "normal" trade-in.
I known its a vicious circle for the industry, but with a poor offer like that, I can easily drive a year or two in my current 2006 model (which btw is in fine condition and is loaded)
I understand the industry is in trouble, but it is obvious that you dont move any cars, when you scare the customers away....
Does anyone known a dealership that will offer a decent price on a trade-in ?
Most new cars are being heavily discounted trying to move stock on the lots. This drives down the used car values too. It is a very fluid market and KBB isn't always up to date. What sort of car are you trading? Sounds like you would have been better off leasing if you are already in the market for a new vehicle.
When buying a new car, I would make the best deal possible before bringing into the equation anything like trade-ins or financing. Getting Internet offers really helps, in my experience. Dealers will play all sorts of games with the numbers to make it look like you are getting a good deal on your trade in. I'd be willing to go the craigslist/autotrader route and sell the car myself if I don't like the quote. (For kicks, you may want to get the lowball CarMax offer just to have a floor figure).
Trade-ins are never a good value. You should always sell your car independent of the transaction for the new one if you hope to maximize what you could get for it.
You could try selling it to CarMax, although they don't offer top dollar.
Best would be to clean it up and sell it yourself. But the market for cars in general is down substantially. There just isn't a lot of demand, which is depressing prices.
And if your current car is in "fine condition and loaded," why get a new car anyway? Sticking with what you have would make the most sense economically.
Hyundai was dealing big a few months ago. I drove in and the first thing they said was we will take 6500 of the sticker. I walked out with 10k off the sticker and the trade I was looking for on my old SUV. We got an 08 Santa Fe loaded
I known its a vicious circle for the industry, but with a poor offer like that, I can easily drive a year or two in my current 2006 model (which btw is in fine condition and is loaded)
How many miles are on your car? I'd hope you'd be able to easily drive a year or two on a 2006 model.
Out of curiousity, is this typical of how often people swap out? I've always bought new cars and driven them into the ground...my first car was a 1989 Honda Civic, which I traded in for a 2000 Honda Accord (which I'm going to try to keep going for a couple more years). Two cars, 20 years. I guess the car companies hate my type, but at least my mechanic loves me.
I also drive my cars into the ground. My last car I had for 6 years, but then it was totaled. I am now driving a 2001 Galant and it drives and looks great. I think it's crazy when people want to buy a new car after they just finished paying theirs off, or in some cases before it's paid off. Unless you need a new car for practical reasons (need more room, etc.) I just don't get it. Sure I would love to get a new car every couple years, but financially it just doesn't make sense. I'm sure some of these people bought a house they couldn't afford either. I would love to get a small SUV to add pet taxi service to my business, but I will wait until I can put a few thousand down for one.
Yesterday I drove by a established and well-known dealership on Capital to buy a new car. I was actually interested in making a deal, but the offer I got on my old car was so poor that I just left the store.
It was 8-9.000 dollars below KBB and approx. 30% lower than the "normal" trade-in.
I known its a vicious circle for the industry, but with a poor offer like that, I can easily drive a year or two in my current 2006 model (which btw is in fine condition and is loaded)
I understand the industry is in trouble, but it is obvious that you dont move any cars, when you scare the customers away....
Does anyone known a dealership that will offer a decent price on a trade-in ?
We just did a car deal which went frighteningly similarly; the first dealer we went to who we have bought cars from before offered us $6,000 for the trade and even though we walked in with a loan approved by my bank at 6% interest they wouldn't do better than literally 15%. I went around the corner to another dealer who we also have bought cars from and they gave us a 5% loan and $9,500 on the trade. Apparently it has a lot to do with who is hungry at the moment (or maybe with the phase of the moon). I could understand some small difference in the "deals" from one place to another; but this was a HUGE difference. For the record, the first dealer was a Ford dealer, and the second was our local Mazda dealer.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
